Stay Informed!

"debt limit"

Members of Congress last week voted to suspend the federal debt limit until March 2015. According to Reuters, “Extending the debt ceiling to March 2015 means the issue may not get caught up in election-year politics.”

Yesterday the House voted to suspend the debt ceiling for one year. The Senate is expected to pass the legislation today. Here are the “5 Things” you need to know about this latest maneuver and the debt ceiling in general.

With the CBO’s Budget and Economic Outlook for 2014 to 2024 report released yesterday, jobs numbers coming out tomorrow and the end of the suspension of the debt limit approaching, it has been a busy week in Washington.

If the debt limit is going to be raised, then voters support cuts alongside any increase. Six in ten (61%) agree if Congress increases the debt limit, then they should also cut spending. Just 23% support keeping spending levels the same, and 8% support increasing spending.

Late last night the Senate and House voted to fund federal agencies and send hundreds of thousands of federal employees back to work. According to The Washington Post, “The agreement struck by Senate Majority Leader Harry M. Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) ended a stalemate created last month, when hard-line conservatives pushed GOP leaders to use the threat of shutdown to block a landmark expansion of federally funded health coverage.”